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For many years the Acme Company carried on business as a manufacturer of consumer products. In 1988, it embarked on an ambitious program of expansion that involved the·acquisition of a new plant and equipment. Financing was by way of real property mortgages, chattel mortgages, and conditional sales agreements, with very few internally-generated funds being used for the expansIon.
The general decline in demand for its product line as a result of the energy crisis 'and poor economic climate placed the company in serious financial difficulty by 1989. As a result of a failure to pay a trade account to one creditor, bankruptcy proceedings were instituted.
The trustee disposed of the assets of the company and drew up a list of the creditors entitled to share in the proceeds. His preliminary calculations were as follows:
Calculate the distribution of the funds to the various creditors and calculate the cents per dollar amount that the unsecured trade creditors would receive.
Explain Contract Pricing for Machine Sale and The buyer assumed a lien of $40,000, paid $20,000 cash down and agreed to pay $10,000 per year for eight years plus interest
Explain Breach of Contract in Land Laws and If someone breaks a contract, the other party can generally sue and win some form of damages
Who is legally responsible for the execution of management of a corporation ?
ohn, Lionel, and Evelyn Harrymore, siblings and actors, decide to retire after years on the road. They remember a town in Illinois they were familiar with from their travels.
Barbara Hastings has no children of her own, but she does have a beloved niece named Ellen Laughridge. Attentive to the future financial needs of Ellen, Barbara secures a $500,000 life insurance contract from Chameleon Insurance Company, list..
Commercial Law open a meditation studio and looks around the inner city suburb of Paddington for suitable premises
His England home, owned jointly with his wife Sybil, is rented out for $A800/month, in advance on the 1st of every month, and paid into the England bank account. Each quarter, interest is credited to the bank account in the joint names of Basil and S..
what are the limits to amending a company constitution?
Advise what tax consequences arise in respect of the payments.
Any of Congress's enumerated powers under Article I, Section 8 1st Amendment 4th Amendment 5th amendment
Debbie, aged sixteen, lives at home with her mother, Jennifer, in a state where the age of majority is eighteen. Jennifer is aware that Debbie has recently exhibited a sometimes violent and delusionary nature diagnosed as schizophrenia, and has attac..
Business value and ethics, Bart agrees to put Sam's Super Bowl champion-ship autographed football in his sports store to sell for $1,500. Sam agrees to pay Bart a 15% commission for selling the ball. If Joe comes in the sports store and offers Bart ..
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